Heung-A Shipping Decides 77% Common Stock Reduction to "Improve Financial Structure"

[Asia Economy Reporter Ji Yeon-jin] Heung-a Shipping announced on the 12th that it has decided to reduce its common stock by 116,732,559 shares to improve its financial structure and cover accumulated losses.

The reduction ratio is 77.62%, and the number of shares after the reduction will be 26,121,481 shares. The capital will decrease from 53,366,270,000 KRW before the reduction to 13,060,740,000 KRW after the reduction. The record date for the reduction is June 8, and the new shares are scheduled to be listed on the 21st of the same month.